Question

operating a toothed section jack stand
raising
the cup of a toothed section jack stand can be raised freely. letting go of the cup will cause it to drop and stop at the next locking point.
locking
this type of axle stand is locked when the cam in the top of the jack stand slides into the toothed section, preventing the cupped section from dropping further. if the cup is at the correct height, the steel pin is inserted as an extra lock.
lowering
check that the vehicle weight is not sitting on the jack stand, before lowering the cup. if the cup needs to be lowered, the steel pin needs to be removed from the jack stand. then hold the cup with one hand and move the steel handle upwards using your other hand. the cup can now be eased down.
there is no weight on the axle stand.
what is the first step to lower the jack stand cup?
remove the steel locking pin.
move the steel handle upwards.
hold the cup with one hand and move the steel handle upwards with the other hand.

Explanation:

The text about lowering the toothed - section jack stand cup states that the first step is to remove the steel locking pin.

Answer:

Remove the steel locking pin.